Yes — many Non-QM bank statement programs finance second homes for self-employed borrowers who qualify on deposits, with occupancy rules and usually more equity than a primary purchase.
What underwriters typically review on Indiana bank statement second-home files.
Occupancy
Personal use
Part-year use; not a full-time rental
Down payment
Often 15–25%+
Typically more equity than primary
Income path
12–24 mo deposits
Same bank statement calc as primary
Credit
Mid-600s+ common
Higher scores unlock better LTV/pricing
Reserves
Often stronger
Cover primary + second-home PITIA
Property types
1–4 unit common
Condo and unique properties case-by-case
Second-home rules vary by investor and change without notice. Not a guarantee of approval.
Mislabeling occupancy is one of the fastest ways to stall a Non-QM file.
Ryan & Steve confirm occupancy early, then match your deposit history to investors that allow second homes on bank statement income.
We size down payment and reserves against both housing payments so the pre-approval letter reflects a realistic second-home scenario — not a primary LTV you cannot use.
If rental income is the real story, we compare bank statement investment options with DSCR so you pick the cleaner path.
Before you write an offer
Related bank statement guides and Non-QM resources from Ryan & Steve.
Typical 10–20%+ ranges by occupancy and credit.
When rental intent means investment guidelines instead.
Credit, equity, reserves, and deposit eligibility.
Full program hub with guidelines and Get Pre-Approved CTAs.
2MG Daily
Recent articles on bank statement financing, Non-QM options, and self-employed homebuying.
No related blog posts yet. Check back soon for the latest updates.
Yes — many Non-QM bank statement programs allow second-home purchases when you meet occupancy rules, typically with more equity than a primary residence. Guidelines vary by investor.
Generally a property you occupy part of the year for personal use — not rented full-time as an investment. Underwriters look for reasonable distance, exclusive control, and no long-term rental intent.
Often 15–25%+ depending on credit, reserves, and investor. Second-home LTVs are usually tighter than primary bank statement purchases.
Yes. Income still comes from 12–24 months of eligible personal or business deposits — tax returns are not the income path. You also need to support both housing payments and reserves.
Ryan & Steve will confirm occupancy, size your deposit income, and match a bank statement investor before you write the offer.
Ryan Minick and Steve DeLon — Branch Managers & Senior Loan Officers at Luminate Bank. Based in Kokomo, Indiana. Lending nationwide since 2005.
Contact
Ryan Minick NMLS# 203249
Steve DeLon NMLS# 202876
Luminate Bank NMLS# 1281698
Kokomo's Mortgage Team. Lending Nationwide.
1221 Appletree Lane, Kokomo, IN 46902
Luminate Bank NMLS 1281698 Bank Headquarters 2523 S. Wayzata Blvd., Suite 100 Minneapolis, MN 55405 (952) 939-7200. This is not an offer to enter into an agreement. Information provided is outlining the minimum down payment requirements as allowed by specific loan program and product guidelines and any information, rates and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Luminate Bank is not affiliated with any government agency. All rights reserved.
© 2026 The 2 Mortgage Guys at Luminate Bank. All rights reserved.